Guanajuato Silver Company Ltd. provided an exploration update highlighting historical drillhole data within certain areas of the Company's 100% owned Valenciana Mines Complex(VMC) in Guanajuato, Mexico. Highlights: VMC encompasses approximately 4.2km of strike length along the Veta Madre regional fault structure and comprises five primary mine areas: Guanajuatito, Valenciana, Cata, Los Pozos, and Promontorio. Several high-grade areas of interest have been identified as potential near-term mining blocks.

The company anticipates that mining will recommence at VMC before the end of 2022, with mineralized material being sent to El Cubo Complex for processing. The Company expects to restart the associated Cata processing facility in first half of 2023. The examination of historical high-grade drill results in the mine database along with consultation of the previous mining and geology staff has revealed several priority areas within VMC that offer the promise of significant high-grade tonnage including a deeper zone within the Valenciana Mine proper.

Drilling between 2012 and 2021 has indicated a consistent, well mineralized, unmined area with intercepts of both vein and strata-bound mineralization. Additional areas throughout the mine have been identified and will be more fully reviewed for potential future production. Additionally, prepared production stopes already exist at VMC; most notably, the Los Pozos mine has several mineralized blocks that have been defined, organized and are ready for the initiation of cut & fill mining.

These areas were previously scheduled for extraction but remain available because of Valenciana being put on care & maintenance in late 2021, solely due to a lack of tailing space. The Company anticipates that mining will recommence at VMC before the end of 2022, with mineralized material being sent to El Cubo for processing.